Monday 5 December 2016

Retirement villages/resorts

Last week we went with a couple to visit one of these places not far from here. They want to be near the beach. The salesperson took us through their display homes and they are homes! no small units about these.

Two bedrooms, two bathrooms, double garage, spacious kitchen dining and lounge areas plus either a study or third bedroom. This room was smallish but still plenty big enough for a desk and/or single bed. The rooms are bigger than the rooms in our house and ours is considered a family home.

There were three different designs that they showed us all with great furniture in them and first we were shown through the reception area which looked like the entrance to a fancy hotel, hence I suppose the name being a resort. The dining area with cheaper meals on offer three nights a week, a coffee shop, hairdresser and bar run by residents, then we branched out and saw the swimming pool and spa, alongside was a covered bowling green.

Very nice and very pricy. The units/houses were from $470,000 to $488,000 not much when said quickly, then there was a weekly fee of $137 this was to cover rates, water and insurance plus garden maintenance. They have a gardener who mows all the lawns but there is a small area of garden that people can chose to work in that.

On leaving, there is a 5% per year up til seven years that needs to be returned to the resort. So if one was to buy in for $400K (just for my ease of working out) then a yearly amount of $7000 plus to be paid, then if people were to leave for whatever reason after five years, then $100,000 goes to the resort. A lot of money!
Image result for retirement villages gold coast
This is a common area.

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